Moss Adams Wealth Advisors LLC Raises Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Moss Adams Wealth Advisors LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 36.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,328 shares of the network equipment provider's stock after acquiring an additional 4,090 shares during the period. Moss Adams Wealth Advisors LLC's holdings in Cisco Systems were worth $946,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems during the 4th quarter valued at $26,000. Navigoe LLC acquired a new stake in Cisco Systems during the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the 4th quarter valued at $26,000. JDM Financial Group LLC grew its holdings in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Trading Up 2.2%

Shares of NASDAQ:CSCO opened at $66.06 on Monday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The firm has a market cap of $261.60 billion, a P/E ratio of 28.85, a P/E/G ratio of 4.16 and a beta of 0.88. The company has a 50 day moving average of $59.61 and a 200-day moving average of $60.38. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same period in the prior year, the business earned $0.88 earnings per share. The business's quarterly revenue was up 11.4% on a year-over-year basis. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.48%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.

Cisco Systems announced that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CSCO shares. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Piper Sandler raised their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. UBS Group lifted their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Citigroup lifted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Evercore ISI lifted their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.00.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the transaction, the executive vice president now owns 131,676 shares in the company, valued at approximately $8,365,376.28. This represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,400 shares of company stock worth $4,564,439 over the last 90 days. 0.01% of the stock is owned by company insiders.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.